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(3) A reconstruction order shall, in addition to the company named therein, be deemed to
be issued in relation to every—
(a) associate company of that company; and
(b) company not formally associated with the first-mentioned company but which—
(i) benefited from the same credit or guarantee payable from public funds as the
first-mentioned company; or
(ii) carried on any business or activity in partnership or conjunction with the
first-mentioned company;
whether or not the existence or names of such associate or other companies are known to the
Minister at the time the order is issued or are named in the order, unless the company in
question satisfies the administrator that—
A. it has not benefited from any credit or guarantee payable from public
funds; or
B. it has not been a party to any misappropriation or loss of property of
the State, a statutory corporation or State-controlled company, whether
by theft, fraud or other unlawful means; or
C. it has not received property from the State, a statutory corporation or
State-controlled compan, whether directly or indirectly, in
contravention of any law or as a result, either direct or indirect, of the
action of any company named in the reconstruction order which has
caused any misappropriation or loss referred to in subparagraph B.
(4) Even where a company referred to in subsection (3) satisfies the administrator that it
should not be subjected to reconstruction, any share, right or interest in or claim upon the
company held by a culpable person shall be dealt with in accordance with sections 9 and 12 as
if the share, right or interest in or claim upon the company were held by such person in a
company under reconstruction.
(5) The reconstruction of a company commences on the date on which the reconstruction
order relating to it is published in terms of subsection (1).
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Contents of reconstruction order
(1) A reconstruction order shall contain—
(a) the name of the company and, if known, the name of—
(i) each of its associate companies, if any; and
(ii) every company connected with the company as described in section 4(3)(b),
if any;
and
(b) the name of the administrator appointed by the appropriate Minister to administer
the company, and the names of such assistant administrators, if any, as the Minister
may consider to be necessary to assist the administrator, who shall be under the
control and direction of the administrator and to whom the administrator may
delegate any of his or her or functions; and